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    4 Replies Latest reply on Jan 25, 2009 10:21 PM by Creditbuilder

    THINKING OF STARTING A BUSINESS?  KEEP THIS IN MIND

    Creditbuilder Scout

      Running a business can be fun (once you get past the setting up process).

      Here are a few things you need to think about...

      Q: Are you lender compliant?

      A: Even if you do not need to borrow money, being lender compliant means you will be ready if and when you need extra cash-flow

      Q: Do you have a Dun and Bradstreet profile established?

      A: Building your D&B profile will accomplish several things. 1. It will help separate your personal identity with that of your business. 2. It can help you establish NET terms with vendors and suppliers and 3. It is part of the process of becoming lender compliant.

      Q: Are you going to need cashflow to start your business?

      A: In that case you may not wish to start your own business, but purchase an existing entity. For instance Dell offers up to $10,000 Dell credit to companies who have been in business for at least 2 years, even if you just purchased that corporation.

      Many more of your questions like d&b secrets, lender compliant business plans and meeting minutes, can be answered at www.businessformationgroup.com/creditsecrets.html

      Good luck